On: Saudi Arabia’s Plan to Extend the Age of Oil

[at-fates-hands]

You can also add in the lack of refineries and the number has decreased steadily since the 1980's:

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=8_...

It's great we're producing a ton of oil, but if we don't have the capabilities to refine it, I'm not sure what good it does in the long run.

[venomsnake → at-fates-hands]

There has been horizontal expansion of refineries. I don't think US have substantially lower capacity than before.